8602 Kaltz St · Center Line, MI 48015

$55,000

2 bd · 1.5 ba · 1,500 sqft · Townhouse · 16 Days on market

Built 1966 Good condition $37/sqft · 66% below area $450/mo HOA · 30% of rent

---

Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Condition / age +3.8/5.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Adorable end unit townhouse. Two bedroom one and half bath freshly redone and ready for you to bring your furniture. Floors will be redone, fresh paint throughout home including basement. This is a cooperative, with a monthly carrying fee of $450. The sale is cash only and must be used as a primary residence. Application fee is $75. Carrying charges cover; all interior and exterior maintenance (only excluding the a/c unit, washer and dryer), water, trash, snow, clubhouse, taxes, and more.

Key facts

• $450 HOA
• Built 1966
• Listed 15 days

🏷️ Possibly a rental listed for sale. The $55,000 price doesn't fit this home's estimated sale value (~$161,616) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath townhouse listed at $55k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $371 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $55k).
• Recommended offer: $54k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.4% vs local median 5.7% in Center Line — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 74/100 on livability (#190 in MI, #4,835 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities C-, crime D+, health & safety D.
• Van Dyke Public Schools (urban): math 7% / reading 19% proficiency, ranked #512 of 540 in MI (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Marjorie Carlson Elementary School (math 8% / reading 17%, grade F, #1,203 of 1,397 statewide, top 87%, 349 students, 92% FRL); Lincoln Middle School (math 7% / reading 22%, grade F, #460 of 493 statewide, top 93%, 401 students, 96% FRL); Lincoln High School (math 2% / reading 17%, grade F, #692 of 713 statewide, top 98%, 440 students, 91% FRL).
• Market conditions: 41 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals lingering (median 82d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 86% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,321 units permitted in Macomb County in 2024 (86 in 5+ unit buildings).
• This rent runs 35% of the median local income ($53k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $380 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Macomb County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($54k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 4y ago; this cycle's ask has dropped $15k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $47k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 30% of rent.

Recommended offer $54,175 (1.5% below list)

Questions for the listing agent

1. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 2.77% ✓
• Cap rate: 14.40%
• Cash-on-cash: 28.94%
• DSCR: 2.29
• GRM: 3.0

CMA / ARV

• ARV (median comp): $161,616
• List price: $55,000
• Delta: -65.97%
• Verdict: UNDERPRICED
• Comps: 10 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8083 Kaltz St	0.35mi	2/1.0	1,723 (+15%)	1mo	$135,000	$78	56
7059 Dodge Ave	1.01mi	2/2.0	1,443 (-4%)	1mo	$73,000	$51	56
24326 Juliet Dr	0.73mi	2/2.0	1,603 (+7%)	1mo	$150,000	$94	52
8285 Chapp Ave	0.34mi	3/1.0 (+1)	1,200 (-20%)	2mo	$169,900	$142	50
7285 Helen	0.96mi	3/1.5 (+1)	1,635 (+9%)	1mo	$227,500	$139	44
8132 Cadillac Ave	0.93mi	3/1.5 (+1)	1,670 (+11%)	0mo	$166,000	$99	41
8057 Paige Ave	0.75mi	3/1.0 (+1)	1,336 (-11%)	2mo	$195,000	$146	38
11096 Busch Ave	0.82mi	3/1.5 (+1)	1,859 (+24%)	0mo	$226,000	$122	35
25219 Rubin Rd	0.95mi	3/1.5 (+1)	1,271 (-15%)	2mo	$244,990	$193	34
11844 Harold St	1.05mi	3/2.0 (+1)	1,808 (+20%)	1mo	$227,000	$126	32
5966 Engleman Ave	1.41mi	3/1.0 (+1)	1,776 (+18%)	1mo	$210,000	$118	32
11369 Cadillac Ave	0.98mi	3/2.5 (+1)	1,864 (+24%)	1mo	$206,000	$111	30

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.7%
• Equity multiple: 1.98×
• Total profit: $15,044
• Equity at exit: $8,201

10-year hold

• IRR: 31.7%
• Equity multiple: 3.91×
• Total profit: $44,779
• Equity at exit: $4,755

Cash invested: $15,400 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 62 Landlord-Friendly
• State Michigan: 62 Landlord-Friendly · EVEN
• County: — inherits STATE
• City: — inherits STATE

7-day pay-or-quit; mixed climate; Detroit/AA have some protections.

Methodology + full state rankings →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 6 active · 1 under contract
• Months of supply: 18.0 mo (6%/mo absorbed)
• Median asking: $64,950 ($42/sqft)
• Median days on market: 149 d
• This list price: lowest-priced of the active set
• ARV vs active asking: +156.9% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 48015

• Home prices YoY: -20.6%
• Active inventory: 41
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $1,521 high
• Mortgage (P&I): −$288
• Tax est. 1.5%: −$69 /mo · $825/yr
• Insurance: −$23
• HOA: −$450
• Vacancy / Maint / Mgmt: −$319
• Net cashflow: $371

Break-even live

Break-even rent $1,051

Max offer price $55,000

Occupancy floor 71%

Sensitivity live

Price	-10% $409	-5% $390	+0% $371	+5% $352	+10% $333
Rent	-10% $251	-5% $311	+0% $371	+5% $432	+10% $492
Rate	-1.0pp $399	-0.5pp $385	base $371	+0.5pp $357	+1.0pp $343

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $13,750
• Closing costs: $1,650
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
25132 Saint Clement Dr Warren, MI	3.0	1.0	2112	$2,200	$1.04	59d	1	0.44mi
25125 Campbell Ave Warren, MI	3.0	1.5	2086	$2,000	$0.96	97d	1	0.46mi
8659 Harding Center Line, MI	3.0	1.5	1400	$1,700	$1.21	40d	1	0.57mi
8707 Continental Ave Warren, MI	3.0	1.0	1100	$1,200	$1.09	100d	1	0.63mi
8625 Dale Center Line, MI	3.0	1.5	1179	$1,796	$1.52	139d	1	0.70mi
7256 Ready Ave Warren, MI	3.0	2.0	1300	$1,500	$1.15	120d	1	0.71mi
11332 Republic Ave Warren, MI	3.0	1.0	1140	$1,400	$1.23	40d	1	0.71mi
25005 Lawrence Ave Center Line, MI	1.0–2.0	1.0–1.5	1000	$955	$0.95	139d	1	0.74mi
7271 Wiegand Center Line, MI	3.0	1.5	1176	$1,700	$1.45	43d	1	0.75mi
11484 Republic Ave Unit E Warren, MI	3.0	1.5	1118	$1,350	$1.21	43d	1	0.81mi
11099 Dodge Ave Warren, MI	2.0	1.0	1190	$1,150	$0.97	116d	1	0.82mi
11280 Dodge Ave Warren, MI	3.0	1.0	1080	$1,395	$1.29	10d	1	0.88mi
11082 Maxwell Ave Warren, MI	3.0	3.0	1180	$1,850	$1.57	7d	1	0.89mi
11493 Maxwell Ave Warren, MI	3.0	1.0	1177	$1,350	$1.15	82d	1	1.02mi
11472 Cadillac Ave Warren, MI	3.0	1.0	1120	$1,395	$1.25	0d	1	1.08mi
7068 Ford Ave Warren, MI	2.0	1.0	1410	$950	$0.67	34d	1	1.15mi
8647 Chalmers Ave Warren, MI	3.0	1.0	1122	$1,400	$1.25	89d	1	1.19mi
7568 Hudson Ave Unit 2 Warren, MI	2.0	1.0	1415	$900	$0.64	100d	1	1.21mi
7568 Hudson Ave Unit 1 Warren, MI	3.0	1.0	1415	$1,100	$0.78	100d	1	1.21mi
8734 Chalmers Ave Warren, MI	3.0	1.0	1105	$1,600	$1.45	76d	1	1.21mi
7044 Hudson Ave Warren, MI	3.0	1.5	1730	$1,650	$0.95	63d	1	1.29mi
11809 McKinley Dr Warren, MI	3.0	1.5	1212	$1,800	$1.49	113d	1	1.33mi

HOA detail $450/mo · $5,400/yr

• Likely covers: watertrashexterior maint.

Listing history 50 events

1. 2026-09-24
   days on market $55,000 Active 16 DOM
2. 2026-09-23
   days on market $55,000 Active 15 DOM
3. 2026-09-22
   days on market $55,000 Active 14 DOM
4. 2026-09-21
   days on market $55,000 Active 13 DOM
5. 2026-09-20
   days on market $55,000 Active 12 DOM
6. 2026-09-19
   days on market $55,000 Active 11 DOM
7. 2026-09-18
   days on market $55,000 Active 10 DOM
8. 2026-09-17
   days on market $55,000 Active 9 DOM
9. 2026-09-16
   days on market $55,000 Active 8 DOM
10. 2026-09-15
    days on market $55,000 Active 7 DOM
11. 2026-09-14
    days on market $55,000 Active 6 DOM
12. 2026-09-13
    days on market $55,000 Active 5 DOM
13. 2026-09-12
    days on market $55,000 Active 4 DOM
14. 2026-09-11
    days on marketlisting id $55,000 Active 3 DOM
15. 2026-07-31
    days on market $55,000 Active 419 DOM
16. 2026-07-30
    days on market $55,000 Active 418 DOM
17. 2026-07-30
    days on market $55,000 Active 417 DOM
18. 2026-07-28
    days on market $55,000 Active 416 DOM
19. 2026-07-26
    days on market $55,000 Active 414 DOM
20. 2026-07-24
    days on market $55,000 Active 412 DOM
21. 2026-07-23
    listing id $55,000 Active 411 DOM
22. 2026-07-23
    days on market $55,000 Active 411 DOM
23. 2026-07-22
    days on market $55,000 Active 410 DOM
24. 2026-07-21
    days on market $55,000 Active 409 DOM
25. 2026-07-20
    days on market $55,000 Active 408 DOM
26. 2026-07-18
    days on market $55,000 Active 406 DOM
27. 2026-07-18
    days on market $55,000 Active 405 DOM
28. 2026-07-16
    days on market $55,000 Active 404 DOM
29. 2026-07-15
    days on market $55,000 Active 403 DOM
30. 2026-07-14
    days on market $55,000 Active 402 DOM
31. 2026-07-13
    days on market $55,000 Active 401 DOM
32. 2026-07-13
    days on market $55,000 Active 400 DOM
33. 2026-07-11
    days on market $55,000 Active 399 DOM
34. 2026-07-10
    days on market $55,000 Active 398 DOM
35. 2026-07-09
    days on market $55,000 Active 397 DOM
36. 2026-07-07
    days on market $55,000 Active 395 DOM
37. 2026-07-06
    days on market $55,000 Active 394 DOM
38. 2026-07-06
    days on market $55,000 Active 393 DOM
39. 2026-07-05
    days on market $55,000 Active 392 DOM
40. 2026-07-03
    days on market $55,000 Active 391 DOM
41. 2026-07-02
    days on market $55,000 Active 390 DOM
42. 2026-07-01
    days on market $55,000 Active 389 DOM
43. 2026-06-30
    days on market $55,000 Active 388 DOM
44. 2026-06-29
    days on market $55,000 Active 387 DOM
45. 2026-06-28
    days on market $55,000 Active 386 DOM
46. 2026-06-27
    days on market $55,000 Active 385 DOM
47. 2026-06-26
    days on market $55,000 Active 384 DOM
48. 2026-06-24
    days on market $55,000 Active 382 DOM
49. 2026-06-22
    days on market $55,000 Active 380 DOM
50. 2026-06-21
    pricedays on market $55,000 Active 379 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $18,251
• − Mortgage interest: −$3,081
• − Property taxes: −$825
• − Insurance: −$275
• − Repairs & maintenance: −$1,460
• − Management: −$1,460
• − HOA: −$5,400
• − Depreciation: −$1,600
• Taxable income: $4,150
• Est. tax owed @ 24.0%: −$996
• After-tax cash flow: $3,461/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 9 photos

Good 75/100 Cosmetic rehab Est. rehab $7,500–$22,500 screening

This end-unit townhouse is in good condition with fresh paint and hardwood floors. It's ready for a new owner to move in and add their personal touch.

Value-add opportunities

• Both Painting throughout the home — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both New flooring in kitchen and bathrooms — Updated flooring improves functionality and appearance ↑
• Both New kitchen appliances — Modern appliances increase functionality and appeal ↑
• Both New bathroom fixtures — Upgraded fixtures enhance functionality and aesthetics ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 12/100

Zoned Schools

Elementary Marjorie Carlson Elementary School F MI #1,203/1,397 Nat'l #37,719/41,679 Middle Lincoln Middle School F MI #460/493 Nat'l #12,767/14,009 High Lincoln High School F MI #692/713 Nat'l #16,463/17,239

Schools (NCES district)

• District: Van Dyke Public Schools
• NCES district ID: 2634680
• Math proficiency: 7% ▼ -11.00%
• Reading proficiency: 19% ▼ -5.00%
• Median HH income: $33,231
• Composite: 10.46/100
• National rank: #9784
• State rank: #512 of 540 in MI

B Composite livability gradescore 74/100

Livability — Center Line

• Score: 74/100
• State rank: #190
• US rank: #4835

Category grades

Amenities C- Commute A+ Cost of living A+ Crime D+ Employment D- Housing A+ Health & safety D User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Center Line, MI
• County: Macomb · 925,296 people
• City population: 8,448
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 8,448
• Household income: $52,857
• Rent vs Own: 42.7% rent · 57.3% own
• Severe rent burden: 1% of renters

---

Population outlook (Macomb County) Hauer SSP2

• Today (2025): 925,296 people
• By 2030: 948,226 · +2.5%
• By 2040: 983,961 · +6.3%
• By 2050: 1,010,200 · +9.2%
• By 2075: 1,076,222 · +16.3%
• By 2100: 1,077,065 · +16.4%

---

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 51% Black 30% Asian 11% Two or more races 4% Hispanic / Latino 4% Native American 1%
• Common ancestry: Romanian 7% Lithuanian 3% German 2%
• Foreign-born: 15% · Canada, Vietnam
• Languages at home: 81% English-only · Other Indo-European 9% Russian/Polish/Slavic 5% Spanish 1%

---

Political lean MEDSL · Macomb

• 2024 margin: R (+13.7) · D 42.2% · R 55.9% · Other 1.9%
• 2008→2024 swing: -22.3pp toward R · 2008: 8.6pp · 2024: -13.7pp
• All cycles: 2024: R+13.7 2020: R+8.1 2016: R+11.6 2012: D+4.0 2008: D+8.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -66.73%
• Current HPI: 256.7842
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.37%
• F500 in state: 28

---

Industry mix (Fortune 500 HQ in MI)

Industry	F500 HQs	Revenue
▸Automotive Parts	3	$48B
▸Automotive	2	$372B
▸Chemicals	1	$45B
▸Automotive Retail	1	$29B
▸Healthcare / Medical Devices	1	$23B
▸Automotive Technology	1	$20B

Price history

+25.0% since first listed

17 events — show timeline

• 2025-09-30 Relisted — REALCOMP
• 2025-09-30 Relisted — MiRealSource-MiMLS
• 2025-09-26 Pending — REALCOMP
• 2025-09-26 Pending — MiRealSource-MiMLS
• 2025-08-07 Price Changed $65,000 MiRealSource-MiMLS
• 2025-08-07 Price Changed $65,000 REALCOMP
• 2025-06-03 Listed $70,000 REALCOMP
• 2025-06-03 Listed $70,000 MiRealSource-MiMLS
• 2025-06-01 Listing Removed — MiRealSource-MiMLS
• 2025-06-01 Listing Removed — REALCOMP
• 2024-11-19 Listed $70,000 MiRealSource-MiMLS
• 2024-11-19 Listed $70,000 REALCOMP
• 2022-02-28 Sold (MLS) $47,000 MiRealSource-MiMLS
• 2022-02-28 Sold (MLS) $47,000 REALCOMP
• 2022-02-17 Pending — MiRealSource-MiMLS
• 2022-01-28 Listed $52,000 MiRealSource-MiMLS
• 2022-01-28 Listed $52,000 REALCOMP